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March Market Update

March 7th 2014
By: Acquarone
March Market Update

We have recently published out local market report, complete with figures tracking annual property value increases and our latest managed property statistics. You can take a look online by following this link.

Over half of the postcode districts across England and Wales reported a rise in house prices last month; the most widespread growth recorded in the past 10 years. These figures are complimented by home.co.uk, which adds that homes are now selling at their fastest rate since 2007.

The latest figures by Hometrack report that on average 95.8% of sellers are achieving the asking price, a month on month increase of 0.5%. One reason for this can be seen in the increasing numbers of buyers registering with estate agents, the total number of which grew by 17.1% last month.

Greg Young, Managing Director at Intercounty added “2014 has started well although the supply of homes for sale, particularly smaller purchases, is outstripped by the demand for them.  Many sales are now being achieved in excess of asking price with offers from competing purchasers.  The general view is that the outlook for this year is very encouraging and that transactions in the UK will increase from recent lows of around 650,000 to 1 million plus transactions, closer to the pre 2008 highs.”

Source: http://www.hometrack.co.uk/hpsurvey/documents/HTSurveyFeb14_28022014115535.pdf